Displaying posts tagged with

“strategy”

Turning Down a Sale

One entrepreneur who came on the show this week was lambasted for doing something few prudent business people would ever consider – they turned down a sale. This was not because they were to inundated with orders to be able to meet demand – on the contrary, they had essentially no other sales. They turned […]

Strategic Partnerships with the Competition

Does having competition make you uncomfortable? Perhaps you should consider making a strategic alliance instead. Competition can be a scary thing, but it can also be useful, if handled correctly. Few industries or markets are only large enough for a single player, which means that there is little reason for anyone to be afraid of […]

Market on the Future, Sell on the Present

Too often entrepreneurs looking for an investment will fail on this basic concept, thereby undermining their own credibility and in the process, often losing an investment which could have been won. A sale, of any sort, is often promoted based on its future value – that is, the satisfaction or value it will bring to […]

The One Tip for the New Business Owner

If there was only one piece of advice I could give a business owner, this is it: Find a mentor who has been in a similar business situation before (though not necessarily in the same industry), with whom you have good personal chemistry, and with whom you can communicate effectively. The reason for this is […]

Question: Are Your Customers Always Right?

There’s a famous saying that “the customer is always right”, but many people who work in businesses and interact with customers on a daily basis will disagree. There are certainly times when this saying might not be true, but in some businesses, this is taken to an extreme level. In your business, what do you […]

Sharp Reversals

In business, when progress seems to have embarked on a downward spiral, a sudden reversal can be key to survival. The ability to look at the business objectively, and see where the new opportunities lie, can spell the difference between the life and death of a company. However, when the spiral has existed from the […]

Small Business is NOT Like Big Business

There was something I discovered when I started working for myself about small business, and how it compares to larger businesses. Coming from a company with several hundred employees and many contract staff, I moved to a company that had exactly one employee – me. The difference was so fundamental, I wondered if any of […]

Question: Fake it Until You Break It?

There’s a saying commonly bandied about in relation to small businesses that you should “fake it until you make it” which is implying that you should act bigger or better than you might otherwise appear to be, until that becomes a reality. However, this can rapidly backfire as you promise the world, and are left […]